Franchise Law

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News & Analysis as of May 24, 2013

Recent Developments in New York's Taxation of Unauthorized Life Insurers

by Stanley Kaminski, Hugh T. McCormick | Duane Morris LLP on 5/3/2013

Prior to 2012, New York afforded surprisingly favorable tax treatment to life insurance companies that are not licensed to conduct business in New York ("unauthorized life insurers"), but that owned real estate investments in...more

Legal Alert: A Royal Opportunity: Amendments to New York’s Royalty Expense Add-back Statute Leave the Income Exclusion Intact for...

by Sutherland Asbill & Brennan LLP on 3/29/2013

On March 28, 2013, the New York State Legislature passed budget legislation (S.2609D/A.3009D) that replaces the existing New York State and City related - party royalty add - back requirements with provisions based on the...more

Attorney General Prevails In Lawsuit Against Income Tax Preparation Company

by June D. Coleman, Danielle Teeters | Kronick, Moskovitz, Tiedemann & Girard on 2/22/2013

The Attorney General brought a lawsuit against an income tax preparation business alleging violations of state and federal lending, consumer protection, unfair competition, and false advertising laws. The court of appeal...more

Alabama Tax Developments: 2012 Year in Review

by Bradley Arant Boult Cummings LLP on 12/19/2012

Our final Alabama SALT Bulletin of 2012 summarizes the major legislative, judicial, and administrative developments affecting Alabama taxpayers with respect to income, transaction, and property taxes. The spring 2012...more

2013 Audit Guidelines For Small Business

by Peter Bauman - Senior Associate at Tharpe &... on 11/26/2012

What three letters strike fear into the heart of small business owners across the United States? I . . . R . . . S Internal . . . Revenue . . . Service. And in 2013 there may be even greater reason for small...more

Focused on Franchise Law - August 2012

by Barry Kurtz on 9/12/2012

In This Issue: - Barry Kurtz Honored As Trusted Advisor - Franchisor 101: Exploring Exemptions Under California's Franchise Investment Law - Part 1 - Franchisee 101: Taxes, 2013 and Selling Your Franchise...more

MoFo New York Tax Insights - Volume 3, Issue 6 - June 2012

by Morrison & Foerster LLP on 6/1/2012

In This Issue: ALJ Holds New Resident’s Gain on Sale of Former Connecticut Home is Subject to New York Income Tax; Tribunal Reinstates Peter Madoff Petition; Banking Department’s Definition of “Gross Income” Not Properly...more

S Corporations v. Payroll Taxes: A Balance of Salary and Distributions

by Doron Eghbali on 1/29/2011

A recent tax case won by the IRS has closed a loophole employed by S corporations to circumvent paying payroll taxes by characterizing their wages as distributions. This ruling might have serious repercussions in the business...more

Which Business Form is Right for me?

by Eric Sigman on 7/30/2010

Owning your own business is a rewarding and potentially lucrative endeavor. The freedom and sense of accomplishment of being self-employed is unmatched. However, business ownership can be a serious financial risk if you are...more